# PPP loan: XERATEC CORPORATION
> **$217K** approved 04/07/2020 · Paid in Full · Loan `7488617005`
## Borrower
- **Name:** XERATEC CORPORATION
- **Address:** 401 HANCOCK ST, HANCOCK, MI, 49930-2048
- **NAICS:** 541519
- **Business type:** Corporation
- **Business age:** Existing or more than 2 years old
## Loan
- **Approval amount:** $217K
- **Initial approval:** $217K
- **Forgiven:** $218K (101%)
- **Forgiveness date:** 02/16/2021
- **Status:** Paid in Full
- **Term:** 24 months
## Use of funds
- **Payroll:** $217K
- **Jobs reported:** 12
## Lender
- **Originating:** IncredibleBank
- **Servicing:** IncredibleBank (WI)
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*Source: [SBA PPP Data](https://data.sba.gov/dataset/ppp-foia) · AI Analytics · CC0 1.0*